The article presents a theoretical overview and analysis of cross-cultural studies of values using the example of Russian and Azerbaijani ethnic groups. Based on the theories of S. Schwartz and other authors, the study identifies a fundamental dichotomy in value priorities: the orientation of Azerbaijanis towards a group, traditions and collectivism are opposed to the orientation of Russians towards individualism, success and independence. These differences are manifested in family foundations (patriarchy versus democratisation), the structure of ethnic identity (high importance among Azerbaijanis versus balance among Russians), and life strategies. The study highlights the importance of taking into account ethnocultural specifics and overcoming the Westerncentric approach to the study of values, which is of practical importance for optimising intercultural interaction in the context of globalisation.